Raymond James Financial (RJF) 10-K Summary — Year Ended Sep 30, 2025
The annual report includes sections on business, risk factors, and management’s discussion. Reported revenue increased over the period.
Key takeaway
Year ended Sep 30, 2025 · FY2025 10-K
The annual report includes sections on business, risk factors, and management’s discussion. Reported revenue increased over the period.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$15.9B
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
$2.1B
Net income reported for the year.
Operating cash flow
$2.4B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 30, 2022 | $11.3B | +14.1% |
| Sep 30, 2023 | $13B | +14.9% |
| Sep 30, 2024 | $14.9B | +14.9% |
| Sep 30, 2025 | $15.9B | +6.6% |
Business overview
The filing’s business section only lists item references without a narrative description. Therefore, the company’s business is not described in the supplied context.
Financial performance
Total revenue rose over the covered period. Net income and operating cash flow were reported. Operating income was not provided.
Material risks
Material risks include failure to meet regulatory capital requirements, which could trigger mandatory actions by regulators and restrictions on dividend payments and stock repurchases.
Liquidity and capital
The company’s liquidity and capital allocation are subject to regulatory capital adequacy rules that may limit distributions and certain discretionary bonus payments.
What to watch
A concrete item to monitor in the next filing is the company’s capital adequacy ratios and any regulatory constraints on distributions.